other material
confidence high
sentiment positive
materiality 0.70
Forum Energy closes sale-leaseback of four centers for ~$32M net proceeds
FORUM ENERGY TECHNOLOGIES, INC.
- Net cash proceeds from sale-leaseback: ~$32 million from four Texas/Louisiana centers.
- Transaction priced at >10x EBITDA multiple on future annual lease payments.
- Projected H2 2022 FCF plus proceeds implies $60-70M net debt reduction since June 30, 2022.
- Long-term absolute triple net lease executed; FET retains operational use of properties.